SASKATOON, Feb. 16 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) announced today the drillcore assay results of the previously announced resource expansion drilling program at the Company's 100% owned Komis gold deposit (see news releases of October 28 and December 23, 2010). A total of 1,532 metres of diamond drilling was completed in November 2010.

The Company is pleased to report that diamond-drillhole KO-10-06, with trace to minor visible gold, returned 907 g/t gold over 0.2 metres within an overall intersection grading 119.86 g/t gold over 1.5 metres. Diamond-drillhole KO-10-05 intersected 3.36 g/t gold over 10.5 metres. These drill holes tested the on-strike extension of the Komis deposit to the west of the deposit.

Diamond-drillhole KO-10-08, that tested the down-dip extension of the Komis deposit, intersected 111 g/t gold over 0.2 metres, within an overall intersection grading 23.42 g/t gold over 1.0 metres. An additional intersection in this diamond-drill hole returned 4.99 g/t gold over 7.0 metres.

A summary of the Standard Fire assays results are in Table 1, with plan and composite section figures available on the Company website. (

TABLE 1: Komis Resource Definition Drilling 2010 Standard Fire Assay Results
Hole ID Zone Attitude Drillhole
Length m
From (m) To (m) Interval
Fire Assay
g/t Au
KO-10-01 Decline 230°/-50° 75.3 No significant assay
results > 4.0 g/t Au
KO-10-02 Decline 230°/-50° 55.78 No significant assay
results > 4.0 g/t Au
KO-10-03 Decline 143°/-50° 75.3 74.12 74.85 0.73 2.73
KO-10-04 West Ext 208°/-50° 242.9 81.54 82.30 0.76 31.10
        103.80 106.46 2.66 12.02
      Including 105.06 105.46 0.40 77.60
        192.20 196.80 4.60 4.18
      Including 195.27 196.80 1.53 11.23
        212.89 213.39 0.50 6.26
KO-10-05 West Ext 208°/-50° 279.5 46.91 50.18 3.27 2.34
      Including 46.91 47.87 0.96 4.04
        47.87 48.87 1.00 3.12
        178.96 180.92 1.96 15.69
      Including 179.63 179.87 0.24 87.60
        199.77 202.01 2.24 4.48
        221.24 231.70 10.46 3.36
      Including 225.70 227.27 1.57 16.44
        245.15 249.18 4.03 2.03
      Including 245.15 246.63 1.48 4.02
KO-10-06 West Ext 208°/-50° 166.11 19.80 21.32 1.52 119.86
      Including 21.12 21.32 0.20 907.00
        36.45 36.77 0.32 29.70
        88.69 97.38 8.69 2.68
      Including 88.69 90.26 1.57 3.41
        90.26 91.83 1.57 4.38
        95.68 97.38 1.70 4.89
KO-10-07 East Deep 208°/-70° 308.2 103.00 103.38 0.38 3.09
        108.65 109.30 0.65 3.27
        211.80 215.50 3.70 3.40
      Including 212.62 213.07 0.45 13.50
KO-10-08 East Deep 208°/-70° 328.57 174.75 177.65 2.90 6.12
      Including 174.75 176.22 1.47 10.80
        185.77 186.74 0.97 23.42
      Including 185.77 185.97 0.20 111.00
        259.43 266.45 7.02 4.99
      Including 260.63 261.25 0.62 24.10
        261.25 261.50 0.25 11.93
        261.50 261.94 0.44 6.67
        264.67 265.92 1.25 7.42
        270.52 271.28 0.76 7.03

Ron Netolitzky, Executive Chairman, notes, "These assay results are extremely pleasing from the perspective that we can move forward with an aggressive development program for the Komis deposit. Our intention for this year will be to conduct more systematic drilling to the west and below the known resource, dewater the historic underground workings and commence the planning cycle for developing this deposit for production late in 2011."


The assay results are based on the standard fire assay method derived from split NQ drill core and utilization of a 50g standard fire assay charge. The final results for this program include check assay results of the significant intervals. Standard Fire Assay results greater than 5 g/t gold will be assayed using the screened metallic assay method for the significant intervals. All widths listed represent the downhole length of the interval and not the true width.

The quality assurance/quality control of the assay results is monitored by a series of sample standards and sample blanks which are routinely inserted by Golden Band into the sample sequences that are consigned for assaying to the Saskatchewan Research Council Geoanalytical Laboratories operating under ISO 17025 Standards.

About Golden Band

Golden Band Resources, already Saskatchewan's leading gold explorer, is now also a gold producer. Golden Band is a well-financed, Saskatchewan-based, publicly listed company (GBN: TSXV) whose focus is the long-term, systematic exploration and development of its 100%-owned La Ronge Gold Belt properties. Since 1994, Golden Band has assembled through staking and strategic acquisition a land package of more than 750 km2, including 12 known gold deposits, five former producing mines, and a licensed gold mill. Golden Band's key value drivers are the methodical and systematic targeting of primary to advanced-stage exploration while progressing along a parallel path to becoming a sustainable gold producer. The Company is aggressively pursuing its near-term goal of commercial production of its Bingo, Komis, and EP deposits with processing at the 100%-owned Jolu mill. The Company's objective, supported by a positive Pre-Feasibility Study completed in January 2009, is the annual production of at least 75,000 ounces of gold over a ten-year project life. Other longer-term objectives include the continuation of its highly successful exploration and acquisition strategy.

On behalf of the Board of Directors of Golden Band Resources Inc.,

"Ronald K. Netolitzky"
Ronald K. Netolitzky, Executive Chairman

All of Golden Band's exploration programs and pertinent disclosure of a scientific nature are prepared and/or designed and carried out under the supervision of Charlie Harper, P.Geo., who serves as the qualified person (QP) under the definitions of National Instrument 43-101. All of Golden Band's development-related programs and pertinent disclosure of a development nature are prepared and/or designed and carried out under the supervision of Gary Haywood, P.Eng., Golden Band's VP of Operations and COO, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.

Cautionary Statements on Forward-Looking Information: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements").  All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the planned use of proceeds of the Offering, repayment of the Notes according to their terms, development and exploration activities generally, and future plans and objectives of Golden Band are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events, or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Golden Band Resources Inc.

For further information:

Gary Haywood, P.Eng., COO
Golden Band Resources Inc.
Phone: 306 955 0787 x7124
Fax: 306 955 0788
Investor Relations:
Raju Wani: 403 240 0555
Tony Perri: 604 682 6852

Profil de l'entreprise

Golden Band Resources Inc.

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